I`ve had to spend savings ( 10K ) to help my mom get by after her husband ( my father ) died from cancer back in 2004. She owns her condo, but if she sells and downsizes she will lose health benefits, and it doesn`t make sense. She was a great mom so I have no choice and am glad I am able to help her.

I`ve had to spend savings ( 10K ) to help my mom get by after her husband ( my father ) died from cancer back in 2004. She owns her condo, but if she sells and downsizes she will lose health benefits, and it doesn`t make sense. She was a great mom so I have no choice and am glad I am able to help her.

I`ve had to spend savings ( 10K ) to help my mom get by after her husband ( my father ) died from cancer back in 2004. She owns her condo, but if she sells and downsizes she will lose health benefits, and it doesn`t make sense. She was a great mom so I have no choice and am glad I am able to help her.

You're a good soul. Too often, people just dump their parents in nursing homes and forget about them. Your mother did a fine job of raising you! All the best.

Everyone is such a genius. Who knew gas, oil, and, food prices would rise so fast and so much. Me, I never paid anything with a credit card. If I did not have the cash for something it just did not get bought. Now all I do is go to work to try and pay my mortgage off in half the the time. I have not had a true vacation since '99. I do not think that people could imagine the housing decline happening so quickly. The only people that knew that our economy was going to hit the skids were the people in the mortgage lending business and the Arabs.

Most people on Long Island live Well below their means and still cant make ends meet. I am single and make 35,000 a year but was out of work for 7 months last year which resulted in debts. it took me so long to find a job half my stuff is with collections. my credit is shot. so people we do live within our means but housing (I have a 1 bedroom and pay 1100 plus cable and go to a laundromat) and to move it would cost toomuch so I am pretty screwed.have compassion people

Prior to the change in the law a few years ago, people could file for Chapt. 7 relief very easily. Their debts were usually discharged & they got a fresh start. For every pig who took advantage, there were hundreds of people who had illness/unemployment/disabilit y/disasters who needed the fresh start to recover from being financially underwater. Now, thanks to the political parasites acceptance of Credit card lobby $$$$, the system is stacked so that a deserving debtor will likely stay underwater, permitted only a free breath or two, before required enslavement. All those 70-somethings working aren't because they choose to. And I love when the Bankruptcy Trustees come to the hearings in their Ferrari's.

The great myth we heard as kids was that we would all be wealthier and live better than our parents. Unfortunately the realities of higher and higher taxes, corrupt politicians, NAFTA, and untold numbers of illegals have ruined that scenario. And wWhy are medical insurance costs ot of control?...look at all the uninsured non citizens that use the ER as their doctor's office. You, my friend with health insurance, have to foot the bill!!

Prior to the change in the law a few years ago, people could file for Chapt. 7 relief very easily. Their debts were usually discharged & they got a fresh start. For every pig who took advantage, there were hundreds of people who had illness/unemployment/disabilit y/disasters who needed the fresh start to recover from being financially underwater.Now, thanks to the political parasites acceptance of Credit card lobby $$$$, the system is stacked so that a deserving debtor will likely stay underwater, permitted only a free breath or two, before required enslavement. All those 70-somethings working aren't because they choose to.And I love when the Bankruptcy Trustees come to the hearings in their Ferrari's.

yes,I know the feeling,I got divorced,lost my job of 23 years,went into debt(yes worked 2 jobs)files chapt 7,but I have an assett,I'm on a life estate deed,they discharged my bankruptcy,but did not discharge the asset,so now they are giving the creditors a chance to refile against me.I did not abuse my credit cards,if i file chapt 13,it may help,but if you dont have the $$ to pay,whats the use.I guess I should change my name to jose.

I want to add that there is almost an entire generation of boomers now beginning to hit 65yrs. Of these, most do not have pension jobs, and will have to rely on other income sources. Retirement until death is out of the question for this generation.

The trouble is, we have lost many of the normal sources of investment opps, such as the stock market, money funds, savings accounts, and real estate. 401k turned out to be a joke, since it is based on the stock market. In addition, salaries have frozen over the last decade and food commodity prices are starting to outstrip salaries.

Right now, my husband and I have set up a minimal budget and are working hard to pay off our credit card and tax debt, and hope to do this within 5yrs. After that (we'll be 65), we'll be adjusting our living conditions to be able to afford to live another 20 years while working full time to pay living expenses. It's clear our parents generation was the last one able to "retire".

This is what happens when you have champagne taste and a beer budget. People donít look into things enough before buying. Pay the credit card bill when it comes in to avoid loan shark interest rates. No sympathy for those who didnít get a fixed mortgage they could afford.Live within your means.

This is what happens when you have champagne taste and a beer budget. People donít look into things enough before buying. Pay the credit card bill when it comes in to avoid loan shark interest rates. No sympathy for those who didnít get a fixed mortgage they could afford.Live within your means.

Running up a $2 trillion debt is not exactly living within one's means.

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